T6 ecogrowth and development

Question 1

What is economic development

Answer 1

Eco growth and the increase in eco welfare

Question 2

How can eco development occur(4)

Answer 2

Improve standards of living 
Better access to higher quality goods and servuices 
Inc HDI 
Eco sustainability
FDI flows

Question 3

What are characteristics of a developing country(4)

Answer 3

Low SoL
Poor access to goods and services 
Low trade
Low real GDP 
High UE
Low HDI 
Low GDP per capita

Question 4

Measures of development(3)

Answer 4

GDP
GNI (takes into account profits made from abroad)
Inc HDI

Question 5

What are problems with HDI and GNI

Answer 5

They dont take into account externatlities and quality of life

Question 6

What is HDI

Answer 6

Measure of human development

Question 7

What does HDI include(4)

Answer 7

Life expectancy 
Mortality rates
 Literacy rates
Mean years of schooling 
Etc

Question 8

What are barriers to growth and development(5)

Answer 8

Corruption 
Instituational factors
 Infrastructure quality 
Human capital 
Labour skills

Question 9

Give some free market stratergies to promote eco growth and development(4)

Answer 9

Privatisation
Degreulation
Trade liberalisation
Removing FDI restrictions

Question 10

Give some intervensionist stratergies to help EG and ED(5)

Answer 10

Export subsidise 
Protectionism trade policies 
Nationalisation 
More regulation
Inc private sector investment
Inc gov inestment 
Changes to tx rates 
LOwer welfare 
Training schemes

Question 11

Types of aid(3)

Answer 11

Country to country - bilateral
Aid through international bodies - multilateral
Tech assistance 
Humanitarian 
Soft loans - loans with lower IR
Dent relief

Question 12

Argument for giving LEDCs aid(5)

Answer 12

Opporunity to increase their growth 
increase copetitiion 
Improved relations 
Better trade deals 
Inc their SoL

Question 13

Negatives of giving LEDC’s aid

Answer 13

Negative externatlities
Potential credit risk 
LEDCs can become dependent 
Time lags 
Corruption

Question 14

arguments for fdi for firms

Answer 14

lower costs
specialisied labour force

Question 15

general pros of fdi

Answer 15

SUPPLY SIDE GROWTH
Inc SoL
Injections to economy
Capital inflows

Question 16

Cons of FDI

Answer 16

Potential exploitation of workers
Profits nto reinvested in eco
Corruption
Poor workign conditions

Question 17

with regard to poretectionist policies how may firms be incetnivised to invest and set up in an eco

Answer 17

by the coutnry havign say low tarrifs or quotas, meanign firms want to set up to access the lower costs of improtign etc

Question 18

if we stuck what to do

Answer 18

break shit down utnil we can fidn a logicla chain of reasonign embedded in a root

take time to think

Question 19

should we plan if we knwo what we on ab

Answer 19

no

Question 20

what should we do if we usnure on what to write next

Answer 20

work backwards from the point we want to make and find a segway into that joruney

Question 21

what should be our aim for essays when discssing anything

Answer 21

link back to main objectives and then flow from there

Question 22

when discussing a question what shoud we always aim to relate and link our points too when the focus is geenrl

Answer 22

the supply side
the demand side

Question 23

what should we do before linking back to main objectives

Answer 23

make a single poitn, disuss that point then flow with it

Question 24

what attarcts fdi

Answer 24

low wages - cheaper cost of prod
high skill of labour
low tax rates
low transport costs
opportniity of growth in eco, will they get mroe consumer
cheaper trade
free trade